Question

How would you respond to the post below?

The ethical values of an establishment can influence its performance of a business. It is a factor that will impact their relationship with consumers and productivity within the workplace. They must display ethical consciousness to become a successful business in the global market. Ethics refers to the values of an individual that differentiate right from wrong ( Warrick, 2016). Ethical companies have a high chance of meeting the needs of consumers because they are enforcing social responsibility. It can enchance the profit retain by the organization and their staff's performance. Companies that implement ethical standards have a better relationship with their employees, which influences the productiveness. Ethical business practices can increase the competitiveness of an establishment because it establishes the company's value, which can increase sales. It proves that the business focuses on the bigger picture and is trying to create longevity within their industry. Unethical leadership can interfere with the performance of a company. It can create a disadvantage for the business that prevents the company's from growing and meeting its objectives. It can cause poor internal communication, creating conflict, and unproductiveness within a firm. The leader without ethical consciousness can substantially harm the business by creating problems that ultimately damage the establishment's image. According to Appelbaum and Poy-Girard (2007), "Toxic managers create a negative work environment by destroying morale, impairing retention, interfering with the cooperation and information sharing, as well as being unpredictable, explosive, and disrespectful to their staff (p. 19). The leadership will create a toxic work environment that will interfere with the sales and satisfaction of consumers. Companies must display and continue to increase their ethical consciousness to compete effectively within their industry.

Answer 1

The above post is appropriate. In personal when we ourselves know the difference between wrong and right than why not to opt the same for companies and industries.

The ethics followed in business is termed as business ethics which is of prime importance for all the stakeholders.

Ethics is built in the system to enable the person and their conscience to do right things in order to move ahead from the competitors. There are some ethical laws as well for example pollution law or environment law or labor law to protect the people and society from the wrong doing.

It is true that ethical companies have high profit and turnover it is because today society does not only watch the work or objectives performed by the company instead it ensures how you achieved those objectives and how you took care of the society in achieving those objectives.

Even the investors or the customers prefer those companies which are transparent. Hence the company will be declared as transparent company only when they follow fair practices or ethical values.

Business ethics is competitor advantage as

• Often, we have seen the big corporate misuses the stakeholder's trust and money. In this regard the new stringent framework is designed by companies to follow so that fair practices are initiated within the organization.
• Business ethics not only give advantage to the company but the long-lasting relation will enhance the sustainable developments as well. The relation build between the company and stakeholders are out of trust and loyalty which indeed in the part of ethics.
• Business ethics is not good only for outside relation instead it helps in retaining good employees which in turn are beneficial for the companies.
• Other Advantages includes:
  • avoid legal issues and additional compliance
  • maintain goodwill of the company
  • create systematic framework
  • promote integrity and honesty

Unethical values make be beneficial for once but the outcome is not helpful in future. Once the leader start performs illegal or unethical things within the office than the subordinates learn the same which means that short term profit lead to long term disloyalty.

Once the manager or leader started following the wrong ways than it possible destroys all the values and Morales created by the company as framework. Hence to avoid this condition every company should prepare their own code of conduct policies which are strict in nature and are not to be breached.

When the companies have their own set of rules and regulation then to abide by them becomes easy as they are set on the basis of how the companies work.

Hence to conclude the above post clearly talk about how ethics is beneficial and supportive for any organization and what will be the repercussion if the same is not followed by the organization.

The response for the above post is positive as each company should understand the flexibility should be in workings however the ethical rules so framed should be strict and stringent.